I don’t know much about condos except that they are basically apartments that you buy outright vs renting so what are the recourses for owners?
Condominiums are owned by associations, which are made up of the unit owners. The association officers are elected by the unit officers and charged with managing the property. Most condo boards hire professional property management companies to take care of that for them. Having worked as a consultant to a number of property management companies, I know that some are better than others. But the condo board of directors ultimately controls the purse strings, so unless they budget for something and appropriate the funds, the management company can't do it.
If the management company sees that the concrete columns in the basement garage are deteriorating and they recommend spending $100,000 to address the worst of it, but the condo board is more concerned about "image" and decides to spend that $100,000 to replace the marble floor tiles in the main lobby ... well, that's how you get a Surfside collapse.
Remember, the twin to the building that collapsed is only two (or three?) buildings to the north. It's reported to be in much better condition -- it's probably not a coincidence that it's run by a different board of directors.
How all this is going to play out legally is going to be interesting to watch. It has another wrinkle, too -- some of the units may not be occupied by the owners, they may be rented out. So then the occupant looks to the unit owner, and the unit owner looks to the condo association -- of which he is a part.
Messy.